Page 14 - Turkey

Turkey, Sweden agree to hold more talks on NATO bid ahead of summit

Sweden and Finland applied to join NATO last year but faced objections from Turkey on the grounds that the two countries harbour members of the outlawed Kurdistan Workers' Party and the Gulen movement

The not-so-peculiar inflation in Turkey

There are reasons why inflation has decreased despite the central bank's low interest rate policy

Here's why Turkey's currency is crashing after Erdogan got re-elected

Turkish President Recep Tayyip Erdogan won reelection last month despite a battered economy and a cost-of-living crisis that experts say are exacerbated by his unconventional economic policies. The longtime leader appointed an internationally respected former banker as finance and treasury minister and on Friday named a former co-CEO of a US-based bank as head of the central bank. But lingering uncertainty over Erdogan's economic direction and an apparent move to loosen government controls of foreign currency exchanges have led Turkiye's currency to plunge to record lows against the US dollar this week. The Turkish lira has now weakened by around 20 per cent against the dollar since the start of the year. It has raised fears of even higher prices for people already struggling to afford basics like housing and food amid high inflation. I am anxious. I am unhappy. Soon my income won't pay the rent, said Sureyya Usta, a 63-year-old who lives in Ankara. Here's a look at the falling v

Erdogan appoints former US bank executive as Turkish central bank chief

Turkish President Recep Tayyip Erdogan on Friday appointed a former US-based bank executive to head Turkiye's central bank, in another sign that his administration might pursue more conventional economic policies. Erdogan named Hafize Gaye Erkan, a former co-chief executive officer of the First Republic Bank, as governor, according to an announcement in the Official Gazette. The Princeton-educated Erkan, 41, becomes the Turkish central bank's first woman governor. Erdogan won a third presidential term in elections last month as the country grapples with a cost-of-living crisis fuelled by inflation that peaked at a staggering 85 per cent in October. Critics blame the turmoil on Erdogan's policy of lowering interest rates to promote growth. The approach runs contrary to conventional economic thinking that calls for rate increases to combat inflation. On Saturday, Erdogan reappointed Mehmet Simsek, a respected former banker, finance minister and deputy prime minister, to the post of .

Turkish lira crashes 7% after Recep Tayyip Erdogan's third term starts

In other Turkish markets, the main stocks index rose 3.1%, extending gains since the vote to 21% and reversing this year's losses

Turkey's Erdogan takes oath of office for third term as president

Turkish President Recep Tayyip Erdogan was sworn in at the parliament and officially started his third term for the upcoming five years

Turkey's Erdogan set to take oath for 3rd term, announce new Cabinet

Turkiye's longtime president, Recep Tayyip Erdogan, is to be sworn in for his third term on Saturday. All eyes are on the announcement of his new Cabinet its lineup should indicate whether there will be a continuation of unorthodox economic policies or a return to more conventional ones amid a cost-of-living crisis. Erdogan, 69, won a new five-year term in a runoff presidential race last week that could stretch his 20-year rule in the key NATO country that straddles Europe and Asia, into a quarter-century. The country of 85 million controls NATO's second-largest army, hosts millions of refugees and played a crucial role in brokering a deal that allowed the shipment of Ukraine grain, averting a global food crisis. Erdogan is scheduled to take the oath of office in parliament, followed by an inauguration ceremony at his sprawling palace complex. He is scheduled to reveal the members of his new Cabinet during a separate ceremony later on Saturday. Dozens of foreign dignitaries are

NATO presses Turkey to drop objections to Sweden's membership as meet nears

NATO on Thursday ramped up pressure on its member Turkiye to drop its objections to Sweden's membership as the military organisation seeks to deal with the issue by the time US President Joe Biden and his counterparts meet next month. Fearing that they might be targeted after Russia invaded Ukraine last year, Sweden and Finland abandoned their traditional positions of military nonalignment to seek protection under NATO's security umbrella. Finland became NATO's 31st member country in April. NATO must agree unanimously for countries to join. Turkiye's government accuses Sweden of being too lenient on terrorist organisations and security threats, including militant Kurdish groups and people associated with a 2016 coup attempt. Hungary has also delayed its approval, but the reasons why have not been made publicly clear. It's time for Sweden to join now, Norwegian Foreign Minister Anniken Huitfeldt told reporters in Oslo, where she was hosting a meeting with her counterparts to prepar

How Erdogan won in Turkey and what does it mean for the country's future

If Recep Erdogan serves the full five-year term, he will have held power for 26 years - almost the entire history of Turkey in the 21st century.

Erdogan's poll triumph leaves Turkiye divided; Lira hits record low

But the prospect of five more years of Erdogan's rule was a harsh blow to an opposition which accused him of undermining democracy as he amassed ever more power - a charge he denies

The Turkish question

Known unknowns of Erdogan's victory

Turkey election 2023: Erdogan wins another term as president but challenges remain

In a recent run-off election, Recep Tayyip Erdogan emerged victorious securing another five-year term as the president of Turkey. Watch the video to know more about his challenges.

Understanding Recep Erdogan's victory and future outlook for Turkey

Recep Tayyip Erdogan has secured another term as president amidst economic challenges and polarisation of political view in one of the largest economies of the world

Erdogan calls for 'unity, solidarity' after securing historic third term

Erdogan promised to ease economic difficulties and said healing the "wounds" of the massive earthquakes on February 6 would be his priority

Erdogan's reign enters 3rd decade with Turkey's presidential elections win

On Sunday's runoff election, he got 52.14 per cent against 47.86 per cent of his rival Kemal Kilicdaroglu and so he will continue to be President until 2028

Turkey's Recep Tayyip Erdogan claims victory in presidential runoff

Turkiye's incumbent President Recep Tayyip Erdogan has declared victory in his country's runoff election, extending his rule into a third decade. In his first comments since the polls closed, Erdogan spoke to supporters on a campaign bus outside his home in Istanbul. I thank each member of our nation for entrusting me with the responsibility to govern this country once again for the upcoming five years, he said. He ridiculed his challenger, Kemal Kilicdaroglu, for his loss, saying bye bye bye, Kemal, as supporters booed. The only winner today is Turkey, Erdogan said. Preliminary, unofficial results from Turkish news agencies showed incumbent President Recep Tayyip Erdogan ahead with 98 per cent of ballot boxes counted in a presidential runoff that will decide whether the country's longtime leader stretches his increasingly authoritarian rule into a third decade. The state Anadolu news agency showed Erdogan at 52.1 per cent, and his challenger, Kemal Kilicdaroglu, at 47.9 per ...

Erdogan takes lead in unofficial count in Turkiye's presidential runoff

Preliminary, unofficial results from Turkish news agencies showed incumbent President Recep Tayyip Erdogan ahead with 88 per cent of ballot boxes counted in a presidential runoff that will decide whether the country's longtime leader stretches his increasingly authoritarian rule into a third decade. The state Anadolu news agency showed Erdogan at 53 per cent, and his challenger, Kemal Kilicdaroglu, at 47 per cent. Meanwhile, the ANKA news agency, close to the opposition, showed the results at 51 per cent for Erdogan and Kilicdaroglu at 49 per cent. The outcome could have implications far beyond Ankara. Turkiye stands at the crossroads of Europe and Asia, and it plays a key role in NATO. Erdogan's government vetoed Sweden's bid to join NATO and purchased Russian missile-defence systems, which prompted the United States to oust Turkiye from a US-led fighter-jet project. But it also helped broker a crucial deal that allowed Ukrainian grain shipments and averted a global food crisis.

Voters in Turkey choose between Erdogan, Kilicdaroglu in prez runoff

Voters in Turkiye returned to the polls Sunday to decide whether the country's longtime leader stretches his increasingly authoritarian rule into a third decade, or is unseated by a challenger who has promised to restore a more democratic society. President Recep Tayyip Erdogan, who has been at Turkiye's helm for 20 years, is favoured to win a new five-year term in the second-round runoff, after coming just short of an outright victory in the first round on May 14. Speaking to reporters after casting his vote in Istanbul, Erdogan noted that it's the first presidential runoff election in Turkiye's history. He also praised the high voter turnout in the first round and said he expected participation to be high again on Sunday. I pray to God, that it (the election) will be beneficial for our country and nation, he said. The divisive populist finished four percentage points ahead of Kemal Kilicdaroglu, the candidate of a six-party alliance and leader of Turkiye's centre-left main ...

Turkey election 2023: What's at stake in the runoff, how close is the race?

Erdogan and his AK Party have shifted Turkey away from Ataturk's secular blueprint

Erdogan counts on nationalism, security and defiance of West to win polls

Erdogan received 49.5% of the vote, while the leader of the six opposition parties Kilicdaroglu received 44.88%